Arizona State Retirement System Sells 343 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Arizona State Retirement System cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,136 shares of the financial services provider’s stock after selling 343 shares during the period. Arizona State Retirement System’s holdings in Ameriprise Financial were worth $14,980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter valued at $30,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $36,000. SRS Capital Advisors Inc. boosted its holdings in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $38,000. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last 90 days. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $509.57 on Thursday. The stock has a market cap of $48.98 billion, a PE ratio of 15.41, a PEG ratio of 1.15 and a beta of 1.33. The company’s fifty day moving average is $538.39 and its 200 day moving average is $516.69. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.